Accrelist Ltd announce that it has completed the acquisition of a 28.53% equity stake in MClean Technologies through its wholly-owned subsidiary, Accrelist Crowdfunding Pte. Ltd.
MClean Technologies, headquartered in Singapore, has established itself as a pivotal player in the electronics and semiconductor products cleaning solutions industry. The Company offers a comprehensive range of services, including surface treatment, precision cleaning, sterile, and packaging services for various industries such as Hard Disk Drive (“HDD”), consumer electronics, and oil & gas. MClean Technologies operates in Malaysia, Singapore, and Thailand, providing high-quality and reliable services to its diverse clientele.
Executive Chairman and Managing Director of Accrelist, Datuk Dr. Terence Tea Yeok Kian said, “We are excited about the completion of our investment in MClean Technologies Berhad. The Company has a strong foundation and a dedicated team, and I am confident the Company can achieve significant milestones and create long-term value for shareholders. I look forward to be a part of MClean’s future growth, particularly the prospect of the Company’s HDD solutions, especially in Malaysia and Thailand, where demand for high-quality precision cleaning services is growing rapidly.”
Following this acquisition, Jubilee Industries Holdings Ltd., a subsidiary of Accrelist, will be able to leverage the strengths of both companies to create cross-selling opportunities and enhance the customer base of both entities. This collaboration is expected to drive growth and provide comprehensive solutions to a broader market, further solidifying their presence in the electronics and semiconductor sectors.
On 2 July 2024, the share price of MClean Technologies had closed at RM0.425 as at 5:00 P.M., representing a market capitalisation of RM83.8 million
